THERE ARE 3 IMPORTANT ANNOUNCEMENTS THAT WILL EFFECT YOU: 1) THE WHITE HOUSE IS PREPARING TO DO AN EXECUTIVE ORDER TO CUT FHA PREMIUMS BY 50 BASIS POINTS (this will allow less fees for a FHA loan and allow more buyers), 2) USDA IS CHANGING THEIR ELIGIBILITY AREAS EFFECTIVE 2/1 (this has been along time coming so make sure you know that your property is in an eligible area first-check the USDA site-http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do. 3) FANNIE MAE NOW OFFERS 3% DOWN PAYMENT FINANCING: purchase tranactions require that at least 1 borrower be a First-time homebuyer, the 3% can be a GIFT, 35% MI required ...but compare to FHA w/ 3.50% down and 135% MI.For all your mortgage needs call DIVERSIFIED MORTGAGE BROKERS- Tel:434-237-3143,Email: dbi4009@aol.com, Web: www.diversifiedmortbrokers.com .WE EDUCATE & DELIVER !